Yihaodian May Sell Shares as Wal-Mart-Backed Retailer Expands

Yihaodian, the online supermarket whose investors include Wal-Mart Stores Inc., may choose the U.S. for an initial public offering as it expands to challenge Chinese rivals including Alibaba Group Holding Ltd.’s Taobao.

The Shanghai-based retailer aims to break even in three years and will “most likely” sell shares to the public in the U.S., said Chairman Yu Gang, who co-founded the company in 2008 after working as a supply chain executive at Dell Inc. and Amazon.com Inc. There is no timetable for the sale, he said.